According to new report published by Grand View Research,The global fiberglass pipe market was estimated at USD 3.83 billion in 2016.Increasing demand from various end-use industries is key factor driving the growth of market.

The global fiberglass pipes market is expected to reach USD 6.19 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 5.6% over the forecast period, owing to Increasing demand from various end-use industries is key factor driving the growth of fiberglass pipes market. In addition, robust growth in shipping industry in Asia Pacific is further fueling the demand over the forecast period.

Fiberglass pipes are composite materials which have combined properties of two or more materials such as glass fibers and resins, that are used in various end-use industries such as chemicals and irrigation. Fiberglass pipes market is mainly driven by the demand from the oil & gas, chemicals and irrigation, as they are exposed to various intricate environment during transportation of natural gas and in water supply.

In terms of revenue, GRE pipe, an epoxy resin reinforced composite pipe, accounted as the largest product type in 2016 and is anticipated to continue its trends with a growth rate of 5.3% over the forecast period. Increasing need for pipes that are low in weight and possess superior properties are the key factors anticipated to propel the market growth.

The demand for fiberglass pipes is expected to surge owing to the development of new ports in the Asia Pacific region. Different types of resins, glass fibers are used in the manufacturing process for various applications in end use to provide various properties like resistance to abrasion, fire retardant, corrosion resistance, and light weight. Various types of pipes such as GRE, GRP, GRVE pipes are available to cater to the various requirement of the application industry.

GRP pipe segment is projected to experience the fastest growth in terms of value at a CAGR of 6.2% from 2017 to 2025 on account of its various characteristics such as excellent degree of swelling, non-embrittlement, and water resistance. Furthermore, growing infrastructural development activities in emerging economies are expected to augment the growth over the forecast period.

Oil & gas industry emerged as the largest end-use segment in terms of revenue in 2016 and is estimated to reach USD 2.41 billion by 2025. GRE pipes revenue in Asia Pacific region is anticipated to experience steady growth over the forecast period, to reach USD 1.44 billion by 2025

The U.S. fiberglass pipes market in terms of revenue was valued USD 562.9 million in 2016 and is estimated to reach USD 816.6 million by 2025. The industry in Asia Pacific is projected to witness substantial growth over the next eight years owing to robust growth in various end-use industries, especially in the irrigation and oil & gas industries. In terms of revenue, the regional market is expected to grow at a CAGR of 6.8% from 2017 to 2025.

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.